Whiting, Ind., October 20, 2011 – CouponCabin.com, a leading online destination for coupons, announced that it has received a $54 million strategic growth investment led by JMI Equity, a growth equity firm focused on investments in leading software and internet companies. Under the terms of the investment, JMI Equity will hold a minority stake in the company. The investment will help CouponCabin deepen its content position, expand its consumer audience and further establish the company as a leader in the online coupon space.
The main differentiators of CouponCabin include the site’s stringent coupon testing policies and a commitment to providing a one-stop-shop for savings and exclusive coupon content. The CouponCabin team works directly with its retail merchants to secure its coupon codes and deals, many of which are only available at CouponCabin.com. The site was founded in 2003 with 150 stores and 1,000 coupons and has grown to more than 3,500 stores and 100,000 offers in 2011.
“We are thrilled to continue our rapid growth with the support of such a well-respected and experienced firm like JMI Equity,” said CouponCabin Founder and CEO Scott Kluth. “Among other initiatives, this investment will enable us to grow our local, grocery and printable coupon offerings, making us the deepest and broadest consumer destination for coupons on the web. This investment will also help us better engage with more than one million fans on Facebook. We look forward to a successful relationship with JMI Equity and the benefits its industry expertise will afford CouponCabin.”
As part of this partnership, a Board of Directors has been formed including Mr. Kluth, Brad Woloson, General Partner at JMI Equity and Chip Hardt, former Principal at McKinsey & Company.
“Scott has done an incredible job of building this company from the ground up, and we believe CouponCabin has the potential to be the leader in the broader coupon market, not just in the online code segment,” said Mr. Woloson. “CouponCabin is committed to helping people save money by offering the highest quality coupons that are guaranteed to work. By continuing to add more retailers to its already extensive network, CouponCabin will be able to offer its customers even more money-saving opportunities.”
In 2010, CouponCabin generated $500 million in online retail sales for its merchants and has saved its users more than $300 million since 2003.
CouponCabin is a leading online destination for coupons including online coupon codes, printables, grocery coupons and more. Shoppers have saved nearly $300 million since 2003 and with the largest selection of coupons guaranteed to work, CouponCabin.com is the best place to start searching for savings. The average user saves $19 in just 80 seconds on the site. With customized email newsletters, browser savings alerts, new coupon alerts and more, shoppers will never miss out on a great deal with CouponCabin.com. For more information, please visit http://www.CouponCabin.com.
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software, internet, business services and healthcare IT companies. Founded in 1992, JMI Equity has invested in more than 100 businesses in its target markets and has over $2.1 billion of committed capital under management. JMI Equity provides capital for growth, recapitalizations, acquisitions and buyouts. Representative investments include DoubleClick, Internet Brands, Adknowledge, Business.com, DoubleVerify and Undertone. For more information on JMI Equity, visit www.jmiequity.com.
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Chuck Dohrenwend or Kelly Rapoport
The Abernathy MacGregor Group, for JMI Equity